COULEE MICHEL: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
COULEE MICHEL
Largest movements
- Cash +€107,155
up €107,155 (+146%), from €73,409 to €180,564
mainly Advances received (+€53,000) and Net result for the year (+€48,366)
- Tangible fixed assets -€40,552
down €40,552 (-17.1%), from €236,986 to €196,434
- Receivables within one year -€4,960
down €4,960 (-6.6%), from €75,056 to €70,096
of which Trade receivables: -€6,762
- Advances received +€53,000
new in 2025: €53,000
- Profit (loss) carried forward +€49,317
up €49,317 (+23.6%), from €209,172 to €258,488
- Debts after one year -€24,258
down €24,258 (-39.6%), from €61,295 to €37,037
- Current portion of long-term debt -€19,348
down €19,348 (-41.1%), from €47,101 to €27,753
- Tax, wage and social debts +€9,091
up €9,091 (+57.1%), from €15,909 to €25,001
of which Remuneration and social security: +€5,878
- Gross operating margin +€44,821
up €44,821 (+18.8%), from €238,206 to €283,027
- Depreciation -€22,118
down €22,118 (-35.3%), from €62,669 to €40,552
- Taxes +€16,357
up €16,357 (+28,889%), from €57 to €16,414
- Staff costs +€5,826
up €5,826 (+3.5%), from €166,090 to €171,917
- Financial charges -€3,812
down €3,812 (-75.9%), from €5,024 to €1,212
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €396,299 | €455,637 | +€59,338 | +15.0% |
| Fixed assets | 21/28 | €237,104 | €196,553 | -€40,552 | -17.1% |
| Tangible fixed assets | 22/27 | €236,986 | €196,434 | -€40,552 | -17.1% |
| Land and buildings | 22 | €126,997 | €118,797 | -€8,200 | -6.5% |
| Plant, machinery and equipment | 23 | €37,180 | €23,955 | -€13,225 | -35.6% |
| Furniture and vehicles | 24 | €72,808 | €53,682 | -€19,127 | -26.3% |
| Financial fixed assets | 28 | €119 | €119 | = | 0.0% |
| Current assets | 29/58 | €159,194 | €259,084 | +€99,890 | +62.7% |
| Stocks and contracts in progress | 3 | €5,435 | €4,485 | -€950 | -17.5% |
| Stocks | 30/36 | €5,435 | €4,485 | -€950 | -17.5% |
| Amounts receivable within one year | 40/41 | €75,056 | €70,096 | -€4,960 | -6.6% |
| Trade receivables | 40 | €64,668 | €57,906 | -€6,762 | -10.5% |
| Other amounts receivable | 41 | €10,388 | €12,191 | +€1,803 | +17.4% |
| Cash at bank and in hand | 54/58 | €73,409 | €180,564 | +€107,155 | +146% |
| Deferred charges and accrued income | 490/1 | €5,294 | €3,939 | -€1,355 | -25.6% |
| Total equity and liabilities | 10/49 | €396,299 | €455,637 | +€59,338 | +15.0% |
| Equity | 10/15 | €232,652 | €281,018 | +€48,366 | +20.8% |
| Reserves | 13 | €23,480 | €22,530 | -€950 | -4.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,620 | €20,670 | -€950 | -4.4% |
| Profit (loss) carried forward | 14 | €209,172 | €258,488 | +€49,317 | +23.6% |
| Provisions and deferred taxes | 16 | €4,213 | €3,745 | -€468 | -11.1% |
| Deferred taxes | 168 | €4,213 | €3,745 | -€468 | -11.1% |
| Amounts payable | 17/49 | €159,434 | €170,874 | +€11,440 | +7.2% |
| Amounts payable after more than one year | 17 | €61,295 | €37,037 | -€24,258 | -39.6% |
| Financial debts | 170/4 | €61,295 | €37,037 | -€24,258 | -39.6% |
| Amounts payable within one year | 42/48 | €98,138 | €133,836 | +€35,698 | +36.4% |
| Current portion of amounts payable after more than one year | 42 | €47,101 | €27,753 | -€19,348 | -41.1% |
| Trade debts | 44 | €15,351 | €8,949 | -€6,402 | -41.7% |
| Suppliers | 440/4 | €15,351 | €8,949 | -€6,402 | -41.7% |
| Advances received on contracts in progress | 46 | - | €53,000 | +€53,000 | |
| Taxes, remuneration and social security | 45 | €15,909 | €25,001 | +€9,091 | +57.1% |
| Taxes | 450/3 | €8,036 | €11,250 | +€3,214 | +40.0% |
| Remuneration and social security | 454/9 | €7,873 | €13,751 | +€5,878 | +74.7% |
| Other amounts payable | 47/48 | €19,777 | €19,133 | -€644 | -3.3% |
| Remuneration, social security and pensions | 62 | €166,090 | €171,917 | +€5,826 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,669 | €40,552 | -€22,118 | -35.3% |
| Other operating charges | 640/8 | €5,475 | €5,273 | -€202 | -3.7% |
| Gross operating margin | 9900 | €238,206 | €283,027 | +€44,821 | +18.8% |
| Operating profit (loss) | 9901 | €3,971 | €65,285 | +€61,315 | +1,544% |
| Financial income | 75/76B | €74 | €239 | +€164 | +222% |
| Recurring financial income | 75 | €74 | €239 | +€164 | +222% |
| Financial charges | 65/66B | €5,024 | €1,212 | -€3,812 | -75.9% |
| Recurring financial charges | 65 | €5,024 | €1,212 | -€3,812 | -75.9% |
| Profit (loss) for the period before taxes | 9903 | -€979 | €64,312 | +€65,291 | |
| Transfer from deferred taxes | 780 | €468 | €468 | = | 0.0% |
| Income taxes | 67/77 | €57 | €16,414 | +€16,357 | +28,889% |
| Profit (loss) for the period | 9904 | -€568 | €48,366 | +€48,934 | |
| Transfer from tax-exempt reserves | 789 | €950 | €950 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €383 | €49,317 | +€48,934 | +12,785% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.